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Zendesk (Melbourne) did layoffs last year, but this was small scale I think, and mostly driven by their company-specific troubles.
It looks like companies choose not increasing salary path nowadays. That means the only way is to switch jobs to get salary increase and I know several people who did that recently. Company I work at is looking for front end developers as well. I have direct invite to some companies and I know that in case I lose my job I will get new one next day. LinkedIn spam reduced from 2 offers per day to 2 per week but I still get them.
those companies know that investor money is directly related to FED rate. if its zero, they get invested, if its high, people will put money to work elsewhere.
they only lever they have to control fed rate is unemployment. they know they are hurting their business by laying off people they fought to acquire, but their incentives for investor money is higher than anything else.
so their plan is to increase unemployment in the USA so fed lower rates so investment money keeps flowing.
- Local Latam companies are having an easier time retaining talent
- Devs in Latam have lowered their salary expectations and often are putting regular salary increases on pause
- There's less job hopping between firms now
That aside, it is worth noting that a lot of other countries make it a lot more difficult to lay people off and when you do there are more protections, greater notice periods and so on. So it may just be that layoffs are happening overseas and we haven't really heard about them yet.
Also, most non-US offices of big tech companies tend to e a lot smaller. London is a bit of an outlier.
Local companies seemly are willing to hire but because the flood of fired workers they are offering really bad wages. I got offered work as embedded C dev for 300 USD month... I didn't accept back then because I was still working in my old job. I regret not taking that job now. 300 USD at least is more than 0 USD.
- US companies are less likely to offer 15K/month, whereas before it wasn't uncommon - Local Latam companies are having an easier time retaining talent - Devs in Latam have lowered their salary expectations and often are putting regular salary increases on pause - There's less job hopping between firms now
In New Zealand - most layoffs I’ve heard about have been US companies trimming offshore staff. At least one high profile local startup has laid people off though. Speaking as a hiring manager it’s definitely been easier to find people since around mid 2022
It will be interesting to see what happens as a result of the flooding. I imagine New Zealand's economy is going to take an extra hit with that.